Private sector eagerly awaiting Bt2 trillion investment

BANGKOK, Nov 22 – A Thai construction company is entering a joint venture with a Chinese firm to bid for the construction of dual rail tracks under the government’s mega infrastructure plans, tentatively scheduled to kick off next year.

Pasit Leesakul, director of TRC Construction Co, said the private sector is anxiously waiting for the launch of the development projects under the bill to borrow Bt2 trillion, which was passed by the Senate early this week.

TRC is a contractor for gas pipeline and engineering systems, and construction of factories for energy and petrochemical industries.

He said the development projects will increase Thailand’s competitiveness and decrease the logistics cost which amounts to 20 per cent of Thailand’s gross domestic product.

Eighty-five per cent of the Bt2 trillion spending will be allocated to improvement of the railway system and the investment will definitely stimulate the country’s economy and boost employment, he noted.

Mr Pasit predicted 2014 as the golden year for the construction sector and his company will enter bids for energy-related construction at a total value of Bt25 billion.

The company also hopes to expand its business to neighbouring Myanmar and Cambodia with the construction of energy infrastructure. (MCOT online news)